Contrarius Group Holdings Ltd Buys New Shares in Pinterest, Inc. (NYSE:PINS)

Contrarius Group Holdings Ltd bought a new position in Pinterest, Inc. (NYSE:PINS - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 351,683 shares of the company's stock, valued at approximately $10,199,000. Pinterest comprises about 0.6% of Contrarius Group Holdings Ltd's investment portfolio, making the stock its 28th biggest holding. Contrarius Group Holdings Ltd owned about 0.05% of Pinterest at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PINS. Victory Capital Management Inc. lifted its position in Pinterest by 45.6% during the third quarter. Victory Capital Management Inc. now owns 414,285 shares of the company's stock valued at $13,410,000 after purchasing an additional 129,676 shares during the last quarter. CIBC Asset Management Inc raised its position in shares of Pinterest by 5.5% during the 3rd quarter. CIBC Asset Management Inc now owns 21,257 shares of the company's stock valued at $688,000 after buying an additional 1,105 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Pinterest by 7.4% in the 3rd quarter. Empowered Funds LLC now owns 9,165 shares of the company's stock valued at $297,000 after acquiring an additional 635 shares during the last quarter. Thrivent Financial for Lutherans grew its position in Pinterest by 31.6% in the third quarter. Thrivent Financial for Lutherans now owns 546,305 shares of the company's stock worth $17,684,000 after acquiring an additional 131,176 shares in the last quarter. Finally, Swiss National Bank increased its stake in Pinterest by 1.0% during the third quarter. Swiss National Bank now owns 1,779,000 shares of the company's stock worth $57,586,000 after acquiring an additional 16,800 shares during the last quarter. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Insider Buying and Selling at Pinterest

In related news, Director Gokul Rajaram sold 1,150 shares of the business's stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $30.43, for a total transaction of $34,994.50. Following the transaction, the director now directly owns 30,236 shares in the company, valued at $920,081.48. The trade was a 3.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Wanjiku Juanita Walcott sold 6,690 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $32.85, for a total value of $219,766.50. Following the completion of the sale, the insider now owns 254,211 shares of the company's stock, valued at approximately $8,350,831.35. This trade represents a 2.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 207,812 shares of company stock valued at $6,798,857. 7.11% of the stock is currently owned by insiders.

Pinterest Stock Performance

NYSE:PINS traded up $1.63 during trading hours on Monday, reaching $34.05. The company's stock had a trading volume of 11,457,415 shares, compared to its average volume of 9,908,387. The stock has a 50 day moving average price of $34.39 and a two-hundred day moving average price of $32.29. The company has a market capitalization of $23.09 billion, a P/E ratio of 12.66, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02. Pinterest, Inc. has a 12 month low of $27.00 and a 12 month high of $45.19.

Pinterest (NYSE:PINS - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. As a group, analysts predict that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on PINS. Guggenheim raised Pinterest from a "neutral" rating to a "buy" rating and raised their price objective for the company from $39.00 to $40.00 in a research note on Monday. Cantor Fitzgerald increased their price target on Pinterest from $36.00 to $48.00 and gave the company an "overweight" rating in a report on Friday, February 7th. Wells Fargo & Company lifted their price objective on shares of Pinterest from $39.00 to $47.00 and gave the stock an "overweight" rating in a research note on Friday, February 7th. Wedbush increased their target price on shares of Pinterest from $38.00 to $46.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Finally, Roth Capital set a $32.00 target price on shares of Pinterest in a report on Monday, February 3rd. Seven equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $43.33.

Pinterest Profile

Pinterest, Inc operates as a visual search and discovery platform in the United States and internationally. Its platform allows people to find ideas, such as recipes, home and style inspiration, and others; and to search, save, and shop the ideas. The company was formerly known as Cold Brew Labs Inc and changed its name to Pinterest, Inc in April 2012.